Foxconn to Develop New Facilities in India
Foxconn Technology the largest contract electronics manufacturer in the world plans to develop around 10 to 12 facilities in India this will include factories and data centers by 2020. The company is willing to spend a few billion dollars in developing the facilities in India and according to Terry Gou whose company Hon Hai Precision Industry that a lot of customers especially Chinese needs them to manufacture items in India to make phones tablets and televisions.
This announcement made by Foxconn the second tech powerhouse to set foot on the second most populous nation as Xiaomi Inc a smart phone manufacturer announced its plans to manufacture in India. This is also a move by Foxconn to try and lessen rising expenses at its 25 manufacturing sites in China after wages have doubled since 2010.
The expansion plans for India came after the company closed down a mobile phone plant in southern India which prompted protests but no reasons for the closure beside changes in its customer base was given. The new plant in India will be modeled after the Guiyang facility a plant that was part of the company push to develop the less industrialized interior in China.